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cliff passed in the senate just hours earlier. under terms of the legislation taxes on the middle class will not go up. individuals earning $400,000 a year or more and households earning $450,000 a year or more will see the levels return to clinton are a taxes. >> i think that we've made gigantic prog gressments i hope that we can have a bipartisan agreement as we go forward. >> vice-president joe biden -- >> we are losing an opportunity for reform. >> reporter: opponents of the deal said it was done in haste. >> senator mitch mcconnell said this shouldn't be the model and the senate proceed like a bull in a china closet anyway. >> reporter: if the deal is passed in the house, the president is expected to sign this, killing the tax hikes. i'm elizabeth corey done reporting. >> the senate bill's lack of spending cuts is a concern. house majority leader eric cantor said this is not over yet. >>> the new year was also the deadline to apply for the state's homestead tax credit. december 31st was the deadline this get the application i
cliff passed in the senate just hours earlier. under terms of the legislation taxes on the middle class will not go up. individuals earning $400,000 a year or more and households earning $450,000 a year or more will see the levels return to clinton are a taxes. >> i think that we've made gigantic prog gressments i hope that we can have a bipartisan agreement as we go forward. >> vice-president joe biden -- >> we are losing an opportunity for reform. >> reporter:...
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"special report" from washington with all the fiscal cliff latest starts at 6:00. now back to "the five." ♪ ♪ ♪ >> juan: getting redty to party. the last segment we took a look at the serious moments on "the five" this year. now let's get to the good stuff. roll the tape. ♪ notice >> are we non- >> bob. >> sorry. ♪ ♪ notice ♪ ♪ >> hostess brand maker of twinkies. [ laughter ] >> lockness monster was a hoax. >> what? that is a hoax? it's not real? >> oh, man. i'm really going to upset you now. saskatchewan. >> that's sasquatch. >> that's why they only ate grass. >> the eyes were here -- >> my dad said pay your bets and pay them on time. >> give us a profile shot. >> the other segment was my other half. >> puerto rican and irish. >> yes, thank you. >> good combo, right? >> there must be food safety standard. >> that wasn't a food cart you bought it from. >> what was it? >> age makes you more full of wisdom when you were a jerk most of your life. >> look at bob. >> that was mean. >> that was a joke, bob. >> could you manual bob getting an award for his
"special report" from washington with all the fiscal cliff latest starts at 6:00. now back to "the five." ♪ ♪ ♪ >> juan: getting redty to party. the last segment we took a look at the serious moments on "the five" this year. now let's get to the good stuff. roll the tape. ♪ notice >> are we non- >> bob. >> sorry. ♪ ♪ notice ♪ ♪ >> hostess brand maker of twinkies. [ laughter ] >> lockness monster was a hoax....
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. >> all eyes on the house of representatives as we await some action on the fiscal cliff deal. we are live with the late-breaking developments as we wait to hear from congressional democrats. and the health crisis facing secretary of state hillary clinton. new details about her condition and how doctors are treating the blood clot that was found near her brain. and a. a young mom facing jail time on child abuse charges, ordered not to get pregnant for the next 13 years. is that legal? our panel weighs in. and a very rare new year's day session for the house. just hours after the senate passed its version of the fiscal cliff bill. >> house democratic leaders speaking now. let's listen in on what they have to say. >> gave us a thoughtful and detailed explanation of what's gone on and how it was that he and the president working with the democratic and republican leaders in both houses were able to come together on this compromise. we first want to say thank you to the vice president for being so gracious. quite honestly so frank in his conversation with us in explaining as much a
. >> all eyes on the house of representatives as we await some action on the fiscal cliff deal. we are live with the late-breaking developments as we wait to hear from congressional democrats. and the health crisis facing secretary of state hillary clinton. new details about her condition and how doctors are treating the blood clot that was found near her brain. and a. a young mom facing jail time on child abuse charges, ordered not to get pregnant for the next 13 years. is that legal?...
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rick: well as we wait for the house to act or not on the fiscal cliff deal worked out in the senate, we're now just minutes away from vice president joe biden who will meet with house democratic caucus members on the hill. the vice president hammering out that deal with the republican minority leader in the senate, mitch mcconnell. the deal passing in the senate in the wee early hours of this morning. wendell goler is live with that story. so, wendell, what is the white house reaction to the senate vote? >> reporter: rick, the folks here are gratified with the overwhelmingly bipartisan support the deal got in the senate. president obama released a statement in the early morning hours that read in part quote, while neither democrats or republicans got everything they wanted this agreement is the right thing to do for our country and the house should pass it without delay. vice president biden as you say is meeting with house democrats shortly after noon to enlist their support but last night he wouldn't bet which way house republicans will go. >> surely shouldn't predict how the house
rick: well as we wait for the house to act or not on the fiscal cliff deal worked out in the senate, we're now just minutes away from vice president joe biden who will meet with house democratic caucus members on the hill. the vice president hammering out that deal with the republican minority leader in the senate, mitch mcconnell. the deal passing in the senate in the wee early hours of this morning. wendell goler is live with that story. so, wendell, what is the white house reaction to the...
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senators waiting until after the fiscal cliff deadline passed at midnight before they finally approved an agreement. the deal would raise taxes only on wealthy americans and would put off any spending cuts for two months. the agreement now goes to the house where passage is not certain. >>> secretary of state hillary clinton will be spending this holiday in a new york hospital. her third day there after doctors discovered a blood clot near her brain. abc's martha raddatz has the latest on her serious health scare. >> reporter: this morning the normally globe-trotting secretary of state remains in a hospital room. monitoring closely being given blood thinners to break up the clot in her head. family members including daughter chelsea close at her side. a statement from her doctors new year's eve saying the scan revealed a clot in the vein that is situated in the space between the brain and the skull behind the right here ♪ the statement says the secretary did not suffer a stroke or any neurological damage but this is clearly a serious setback. >> the goal there is to try and dissolve
senators waiting until after the fiscal cliff deadline passed at midnight before they finally approved an agreement. the deal would raise taxes only on wealthy americans and would put off any spending cuts for two months. the agreement now goes to the house where passage is not certain. >>> secretary of state hillary clinton will be spending this holiday in a new york hospital. her third day there after doctors discovered a blood clot near her brain. abc's martha raddatz has the latest...
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it's not just the fiscal cliff... lawmakers also have to worry abbut the debt legal borrowing limit of 16-point-4 trillion dollarr yesterday.tte treasury department is taking measuree februury.they include... of suspending some investmenns in bbnefit funds for federal workers.but after that... the treasurr will not be able to pay all of the country's bills in full... and on time. &pcongress woulddhave toovott setting the stage for another - fight on capital hill. as we loseddout 2012 in baltimore... one number rings out... the murder count.theee were 216 homicides.... compaaed to 197 in all of 2011. 3ther'es no question... 20012 was more violent in the city of baltimore.paullgessler has more on how community leaderss are rememberiig the city's homicide victims. victims. ((eeding names)assbaltimore year...(names)commuuity leaders look back at the bloodshed of 20-12.(nnmee)216 readinggnames "floyd dorsey,, 559-that's my cousin-- michael violence... and part of tte city's rooing homicide rate. commissioner anthony atts,,
it's not just the fiscal cliff... lawmakers also have to worry abbut the debt legal borrowing limit of 16-point-4 trillion dollarr yesterday.tte treasury department is taking measuree februury.they include... of suspending some investmenns in bbnefit funds for federal workers.but after that... the treasurr will not be able to pay all of the country's bills in full... and on time. &pcongress woulddhave toovott setting the stage for another - fight on capital hill. as we loseddout 2012 in...
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shy of the deadline the senate passed a deal to avoid the fiscal cliff. >> that goes to the house for a vote. doug mcelway is live with what it all means. you have been up all night so have i, what do we have? >> little more than 2 hours after the deadline passed they passed a stopgap fiscal cliff bill that spares the vast majority of americans tax increases. it passed with broad bipartisan support the final vote was 89 yai's 8 nay's. they pent went to the floor to describe a flawed bill one of the best they could craft given the different priorities over the two parties for the last couple years. >> shouldn't be a model of how we do things but i think we can say we have done some good for the country. we have done some good for the country. we have taken care of the revenue side of this debate. >>> working through the night we have reached a deal with sen more mcconnell. i have said all along the most important priority was to pa protect the middle class families. >> it raises tax rates on incomes over 400,000 for individuals 450,000 for couples. it blocks the spending cuts for two m
shy of the deadline the senate passed a deal to avoid the fiscal cliff. >> that goes to the house for a vote. doug mcelway is live with what it all means. you have been up all night so have i, what do we have? >> little more than 2 hours after the deadline passed they passed a stopgap fiscal cliff bill that spares the vast majority of americans tax increases. it passed with broad bipartisan support the final vote was 89 yai's 8 nay's. they pent went to the floor to describe a flawed...
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in order to avert the fiscal cliff and particularly sequestration an in august they pass a tax bill. the senate on bu the bills, nothing. the same said he could not give us a subject. gerri: what to bring this up. the president at a press conference really sort of insulting republicans, hoping to come to agreement. listen to the president. >> my preference woul have been to solve all these problems in the context of a larger agreement, a bgger deal, a grand bargain, whenever you want to call it. with this congress, that was obviously a little too much to hope for at this time. maybe we can do it in stages. we're going to solve this problem instead in several steps . gerri: he could have been a little more conciliatory. >> i guess what i would say is, i would agree with him. i wish we did have a grand bargain. even brad he just will the when the democrats said we needed a grand bargain. certainly paul ryan and i don't know if you remember, he voted against it. plenty of blame to go around. add up think it makes sense to go after just the president. i think this is a failure of our lea
in order to avert the fiscal cliff and particularly sequestration an in august they pass a tax bill. the senate on bu the bills, nothing. the same said he could not give us a subject. gerri: what to bring this up. the president at a press conference really sort of insulting republicans, hoping to come to agreement. listen to the president. >> my preference woul have been to solve all these problems in the context of a larger agreement, a bgger deal, a grand bargain, whenever you want to...
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the white house and the gop have reached a deal on how to avoid the "fiscal cliff." the news comes just three hours before the new year's deadline. cbs 5 reporter grace lee on where it all stands now. grace. >> reporter: late developments brian. this all coming together in the last several minutes. what we have just learned is that the senate will be voting tonight before midnight. that's the deadline and you can see we have a live look at the u.s. capital as of right now. we are also just hearing that the vice president is headed right here to the capital to brief senate democrats on the details of the deal that they will be voting on toinght. for individuals making more than 400,000 or households more than $450,000, their tax rates are expected to go up next year. for two million jobless americans, their unemployment benefits should be extended at least another year. and that so-called inheritance tax will go from 35 to 40%. but even with all these compromises, it is likely that most of us will be shelling out more cash to the irs come next year. >> you know, keep
the white house and the gop have reached a deal on how to avoid the "fiscal cliff." the news comes just three hours before the new year's deadline. cbs 5 reporter grace lee on where it all stands now. grace. >> reporter: late developments brian. this all coming together in the last several minutes. what we have just learned is that the senate will be voting tonight before midnight. that's the deadline and you can see we have a live look at the u.s. capital as of right now. we...
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goes on to tweet republican's fiscal cliff double think fiscal crisis demands cuts in service, no investment in jobs but allows more tax cuts for richest americans. if and when this comes up for votes in the house and senate, it's unclear how many democrats especially on the left will support this, or buck the president, basically. bret? >> bret: ed henry live in the white house. thank you. stocks started the week up. possibly encouraged early in the day about talk of this possible deal. the dow finished ahead 166. the s&p 500 was up 24. the nasdaq gained 59 another deal not fiscal cliff related. the senate home security committee blasted the state department for failures leading to the deadly september 11th attack on the u.s. mission in benghazi, libya. this comes on the heels of another scathing report by an independent state department accountability review board that we have covered many times. chief intelligence correspondent catherine herridge has the latest senate report sites the white house for president obama inconsistent statements whether the benghazi assault was terrorist attack
goes on to tweet republican's fiscal cliff double think fiscal crisis demands cuts in service, no investment in jobs but allows more tax cuts for richest americans. if and when this comes up for votes in the house and senate, it's unclear how many democrats especially on the left will support this, or buck the president, basically. bret? >> bret: ed henry live in the white house. thank you. stocks started the week up. possibly encouraged early in the day about talk of this possible deal....
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with the deadline of the fiscal cliff only hours away. we failed to reach a reasonable compromise to move the economy forward and ward off painful tax hikes on the middle class. >> a lot of people feeling like in both the house and the senate this process could have been handled much better a long time ago with open hearings rather than having two people negotiate this deal at the last minute, trace. mike emanuel back to us on capitol hill. any updates as they come in. thank you. on this day in 1938, police tested the world's first
with the deadline of the fiscal cliff only hours away. we failed to reach a reasonable compromise to move the economy forward and ward off painful tax hikes on the middle class. >> a lot of people feeling like in both the house and the senate this process could have been handled much better a long time ago with open hearings rather than having two people negotiate this deal at the last minute, trace. mike emanuel back to us on capitol hill. any updates as they come in. thank you. on this...
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the bottom line at this hour, we are headed over the proverbial fiscal cliff. we say that because the senate hasn't voted on any kind of deal. you see it there live. and the house has said even if there is a deal, they're not going to bring any bill to a vote on this new year's eve. so the big question tonight, what impact will it have on every american? we have all of it covered, and we begin with nbc's kelly o'donnell for the latest from capitol hill. kelly? >> reporter: good evening, kate. well, congress is out of time, and frustrations are really running over. and while democrats and republicans say they want to find a solution and they are working toward that, they don't have a deal yet, and that means for now there is nothing to vote on before tonight's deadline. with your money on the line, tonight washington can only claim progress. but not success. >> it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. >> we're very, very close. >> reporter: close comes after intense, closed-door negotiations that kept e
the bottom line at this hour, we are headed over the proverbial fiscal cliff. we say that because the senate hasn't voted on any kind of deal. you see it there live. and the house has said even if there is a deal, they're not going to bring any bill to a vote on this new year's eve. so the big question tonight, what impact will it have on every american? we have all of it covered, and we begin with nbc's kelly o'donnell for the latest from capitol hill. kelly? >> reporter: good evening,...
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all indications are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition. unemployment benefit are extented for one year. same for the medicare doc fix and the social security payroll tax cut. reverse to rate of 6.2%. those are the deals as they stand right now. although things are developing and they could change. those looking to europe for inspir ration and coming up with american tax rates that target the rich may have to rethink the strategy based on a ruling by a french court. senior foreign affairs correspondent greg palkot has that story. >> proponents of the high taxes in france took a bit of a hit over the weekend. >> the french constitutional counci
all indications are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition....
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is officially going over the fiscal cliff. the senate at this hour has not moved the bill to the floor. until that happens, the house won't act. has signaled there will be no miscall cliff action tonight. tonight on the last "special report" of 2012, although president obama says the deal is in sight, what does it look like and will it pass either chamber? we will cover the negotiations from every angle and the the f fall-out. secretary clinton has been hospitalized because of a blood clot between her brain and skull but they are confident she will make full recovery. there is another taming report on security failures. send this back to new york and the colleagues with "the five." ♪ ♪ ♪ ♪ >> juan: getting redty to party. the last segment we took a look at the serious moments on "the five" this year. now let's get to the good stuff. roll the tape. ♪ notice >> are we non- >> bob. >> sorry. ♪ ♪ notice ♪ ♪ >> hostess brand maker of twinkies. [ laughter ] >> lockness monster was a hoax. >> what? that is a hoax? i
is officially going over the fiscal cliff. the senate at this hour has not moved the bill to the floor. until that happens, the house won't act. has signaled there will be no miscall cliff action tonight. tonight on the last "special report" of 2012, although president obama says the deal is in sight, what does it look like and will it pass either chamber? we will cover the negotiations from every angle and the the f fall-out. secretary clinton has been hospitalized because of a blood...
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>> seconds ago, confirmation that, in fact, the house will not take up any fiscal cliff vote tonight even if the senate manages to get a piece of legislation to the floor and gets over the hurdles we have talked about. if there are the votes to get it on the senate side question confirm, right now, from our people on capitol hill, including chad, who you just talked to, the house will not take up any fiscal cliff vote even if the senate does pass something tonight as you look at the senator from missouri speaking on the senate floor. that means the country is going over the fiscal cliff technically. as we have known congress to do before, you can have maneuvers by which they rewind the clock and if they go into tomorrow and they actually pass a piece of legislation they can rewind it to the point they need to be. some of the stipulations about the sequester and those are the across-the-board cuts do not kick in, until january 2nd so those are some of the things people are talking about. however, the biggest thing that everyone is talking about, are there really the votes to get this
>> seconds ago, confirmation that, in fact, the house will not take up any fiscal cliff vote tonight even if the senate manages to get a piece of legislation to the floor and gets over the hurdles we have talked about. if there are the votes to get it on the senate side question confirm, right now, from our people on capitol hill, including chad, who you just talked to, the house will not take up any fiscal cliff vote even if the senate does pass something tonight as you look at the...
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already going over the fiscal cliff because the house is adjourning. tom foreman joining us with more details. what are you seeing? >> even if you don't care about politics, you don't care about the president, the parties, congress, anything else, you should be watching this number back here right now. because if this gets to zero without a deal, every taxpayer in america is going to be affected. or at least we're going to be one giant step closer to them being affected. because taxes will go up for everyone. by how much? let's look at some examples. let's say you make $50,000 a year. i'm talking about for a couple. for a family. it's a little bit different with individuals. still pretty close. if you make $50,000 a year, your taxes are going up by $2,000. next year and either year after that. unless this thing is fixed somehow. that's a whopping amount of money for people making that little. and that's what's in place if it goes that direction. let's say you make $75,000 a year. that's a pretty good bit more. if you make $75,000 a year, you're going t
already going over the fiscal cliff because the house is adjourning. tom foreman joining us with more details. what are you seeing? >> even if you don't care about politics, you don't care about the president, the parties, congress, anything else, you should be watching this number back here right now. because if this gets to zero without a deal, every taxpayer in america is going to be affected. or at least we're going to be one giant step closer to them being affected. because taxes...
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jimmy, let's start with the fiscal cliff. >> fiscal cliff. >> we're hearing about a strange marriage between minority leader mitch mcconnell and the vice president. why is the senate's top republican having to go to the white house for help with democrats? >> well, i mean, they have been running around saying we want the president to lead, we need the president to show leadership. john mccain just went to the show and said the president needs to show leadership. does he think the vice president's office somehow got moved away from the executive branch? i'm pretty sure the president via his vice president is leading. if that's the case, it sounds to me like they don't like what he's leading with. >> you said via. he hasn't built the relationships with members of his own party or the other party. so, yes, it makes sense that vice president biden is brought in because he still has relationships with people on the hill. >> but, susan, another issue here, and that is mcconnell having to go to biden because he's learned he can't depend on boehner to help him. >> well, i think -- >> no? stu
jimmy, let's start with the fiscal cliff. >> fiscal cliff. >> we're hearing about a strange marriage between minority leader mitch mcconnell and the vice president. why is the senate's top republican having to go to the white house for help with democrats? >> well, i mean, they have been running around saying we want the president to lead, we need the president to show leadership. john mccain just went to the show and said the president needs to show leadership. does he think...
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no matter what, logistically we are probably going to go over the cliff, fiscal cliff even if a deal is struck just because of the maneuvering of how to get something passed in the senate and the house. so if you have a deal this afternoon you still have to get it to the floor of the senate, you have to talk about it, debate, you have to get through a series of votes, then you are talking about possibly 10:00 p.m. tonight where you get something passed if you get that far. then potentially the house takes it up tomorrow. if you again there are a lot of roadblocks because we don't know the specifics of the deal. rick: we heard that republicans have basically been dealt a poor hand when it comes to these negotiations. but is the than that bad that republicans will have to vote yes for tax rate increases without the promise of any spending cuts at all? >> reporter: there will be a large portion of the house republican caucus who will not do that. they just won't. they were voted -- they were elected not to do that. they were sent from their districts just as the president says he has a
no matter what, logistically we are probably going to go over the cliff, fiscal cliff even if a deal is struck just because of the maneuvering of how to get something passed in the senate and the house. so if you have a deal this afternoon you still have to get it to the floor of the senate, you have to talk about it, debate, you have to get through a series of votes, then you are talking about possibly 10:00 p.m. tonight where you get something passed if you get that far. then potentially the...
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fiscal cliff. he is joined by middle-class americans and is in the eisenhower executive office, a short distance from the white house. we are waiting for the president to be -- to come to the podium. you can share your thoughts with us on our facebook page as to whether washington should forge a compromise or go over the fiscal cliff. the president is coming momentarily and this is a live view from the white house. our coverage continues this december 31, 11 hours before the midnight deadline for congress to reach an agreement on the fiscal cliff. >> president of the united states -- [applause] >> thank you. >> happy new year to you. >> low, everybody. thank you. everybody have a seat. good afternoon, everybody. welcome to the white house. i realize that the last thing you want to hear on new year's eve is another speech from me. but i do need to talk about the progress being made in congress today. for the last few days, leaders of both parties are working toward an agreement that will prevent a m
fiscal cliff. he is joined by middle-class americans and is in the eisenhower executive office, a short distance from the white house. we are waiting for the president to be -- to come to the podium. you can share your thoughts with us on our facebook page as to whether washington should forge a compromise or go over the fiscal cliff. the president is coming momentarily and this is a live view from the white house. our coverage continues this december 31, 11 hours before the midnight deadline...
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, to deal with the fiscal cliff. if you don't like the house's product bring it on the floor of the senate and let's change it. let's start being legislators instead of just a place where ideas go and die in the united states senate, it's embarrassing to me being the most deliberative body in the world and not be able to have a debate about how the fiscal cliff drama should end. we should have had the house bill on the floor months ago. harry reid blocks everything coming from the house, this place is completely dysfunctional and this is why you wait on new year's eve to financed out what is happening, because we don't vote in the senate any more. uma: it's a very troubling and disturbing situation indeed, senator graham. thank you so much for joining us. we are all watching and waiting to see what happens over the next few hours. >> there are a lot of votes in this body to avoid the fiscal cliff if we could just get the body working we would. but i want to end with this note. if there is going to be revenue increase
, to deal with the fiscal cliff. if you don't like the house's product bring it on the floor of the senate and let's change it. let's start being legislators instead of just a place where ideas go and die in the united states senate, it's embarrassing to me being the most deliberative body in the world and not be able to have a debate about how the fiscal cliff drama should end. we should have had the house bill on the floor months ago. harry reid blocks everything coming from the house, this...
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. >>> now to continuing coverage of that looming fiscal cliff. 15 hours from right now the u.s. economy will go over that cliff unless congress and the white house can work out a last minute deal. if there is no new budget deal by midnight tonight, east coast time, income tax rates will go up for all americans. coming up at 6:15 the new numbers that are being thrown around this morning. >>> it is 6:07. starting tomorrow alameda county grocery stores and most other stores that sell food or alcohol cannot distribute plastic bags to their customers. in place of the single use bags stores are allowed to use paper or reusable bags but they have to charge at least a dime for each bag. customers are being encouraged to bring their own bags when shopping. restaurants can still provide plastic bags to customers. >> i'm trying to remember. >> some of the places i go they give you a discount. they give you five cents if you bring your own bag. >>> time now 6:08. tara is back to talk about your commute. you're also telling us about free rides for new years eve. >> that is right. muni is fre
. >>> now to continuing coverage of that looming fiscal cliff. 15 hours from right now the u.s. economy will go over that cliff unless congress and the white house can work out a last minute deal. if there is no new budget deal by midnight tonight, east coast time, income tax rates will go up for all americans. coming up at 6:15 the new numbers that are being thrown around this morning. >>> it is 6:07. starting tomorrow alameda county grocery stores and most other stores that...
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mike, where do the things stand in the fiscal cliff talks at this critical late-stage? >> reporter: gregg, there seems to be some hope that conversations between vice president joe biden and senator mitch mcconnell can produce a deal. aides say the two men spoke multiple times last night and will continue working toward a solution. mcconnell called the vice. president bush: after weighing 18 hours from senate majority leader harry reid who seemed to throw in the towel. >> there is still significant difference between two sides and negotiations continue. there is still time left to reach an agreement and we intend to continue negotiations. >> reporter: a big issue is what thresh do you continue the bush tax cuts. the democrats latest proposal, extend expiring tax rates for individuals with taxable income up to $360,000. and couples with income of about $450,000. senate republicans latest proposal allah taxes to rise on $450,000 for individuals and 550,000 for couples. republican aides say the democrats in the senate have not made any additional offers since saturday afte
mike, where do the things stand in the fiscal cliff talks at this critical late-stage? >> reporter: gregg, there seems to be some hope that conversations between vice president joe biden and senator mitch mcconnell can produce a deal. aides say the two men spoke multiple times last night and will continue working toward a solution. mcconnell called the vice. president bush: after weighing 18 hours from senate majority leader harry reid who seemed to throw in the towel. >> there is...
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economy will go over the fiscal cliff unless congress and the white house can work out a last minute deal. if there is no new budget deal by midnight tonight east coast time income tax rates will go up for all americans. coming up at 5:15 the two men leading the last minute negotiations. >>> the chp is trying to figure out what led up to a crash that killed a motorcycle rider in concord last night. it happened just before 6:30 on kicker pass road. the chp says no other cars were involved and it's unclear why the driver lost control. >>> three people are recovering after a crash after a car crashed into a concord funeral home. it happened yesterday afternoon at the we met brothers concord funeral chop ill on clayton road. it appears two teens were racing when they lost control and crashed their car into the building. the teens were taken to the hospital with serious injuries. a 66-year-old man who was inside the building has a broken leg. police interviewed a second driver that may have been racing the teens but have no arrests yet. >>> police officers are out there watching for drive
economy will go over the fiscal cliff unless congress and the white house can work out a last minute deal. if there is no new budget deal by midnight tonight east coast time income tax rates will go up for all americans. coming up at 5:15 the two men leading the last minute negotiations. >>> the chp is trying to figure out what led up to a crash that killed a motorcycle rider in concord last night. it happened just before 6:30 on kicker pass road. the chp says no other cars were...
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the fiscal cliff deadline is looming. congress house and have a few hours left to reach a to stop potentially devastating tax hikes and spending cuts from taking effect. we will have an in-depth report few moments.just a and now a check on traffic. 118 in germantown, it looks like this all morning. no delays southbound. l head onto a map. we had an ongoing cleanup near the air force base. the lanes have been reopened. everything is looking pretty good. we will head to springfield. traffic moving smoothly north. here is a look at the weather. >> a little bit on the cool side. need playersy today. cold is here. the 21 in manassas, 29 degrees in washington d.c.. if the clouds are filtering in. they will thicken up throughout the day. average between 42 and 46. >> thank you. l have another local news coming up at 8:56 on this new year's eve morning. [ cheers and applause ] >>> all right. we have great crowd outside counting down to the new year. the party is already starting in here. >> a little bit. >> ron claiborne, dan abr
the fiscal cliff deadline is looming. congress house and have a few hours left to reach a to stop potentially devastating tax hikes and spending cuts from taking effect. we will have an in-depth report few moments.just a and now a check on traffic. 118 in germantown, it looks like this all morning. no delays southbound. l head onto a map. we had an ongoing cleanup near the air force base. the lanes have been reopened. everything is looking pretty good. we will head to springfield. traffic...
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. ♪ >>> ahead on "starting point," the latest on the fiscal cliff negotiations. we'll ask one house member if he expects to be voting on a deal today. next, utah congressman jason chaffetz. and is the kardashian clan about to get bigger? the new year's news you had to have. kim and kanye west, they respond to the pregnancy rumors. >>> breaking news, everyone. you're watching "starting point." so i switched my car insurance to state farm... saved $480 bucks. you know what that is? yeah. don't say it. so you know what it is, right? yeah, yeah, don't. that's a lot of dough! ♪ [ male announcer ] switch and you could save $480 bucks with state farm. when i'm out with my kids, my daughter's like, "mom, wait up!" and i'm thinking, "shouldn't you have more energy than me? you're, like, eight!" [ male announcer ] for every 2 pounds you lose through diet and exercise alli can help you lose one more by blocking some of the fat you eat. simple. effective. advantage: mom. let's fight fat with alli. learn more, lose more at letsfightfat.com. >>> millions of americans countin
. ♪ >>> ahead on "starting point," the latest on the fiscal cliff negotiations. we'll ask one house member if he expects to be voting on a deal today. next, utah congressman jason chaffetz. and is the kardashian clan about to get bigger? the new year's news you had to have. kim and kanye west, they respond to the pregnancy rumors. >>> breaking news, everyone. you're watching "starting point." so i switched my car insurance to state farm... saved $480...
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time is nearly up before we go over the so-called fiscal cliff. senate leaders spent the weekend working on a last-ditch deal and the house comes back today for a rare sunday night session. yesterday afternoon in an exclusive interview, president obama sat down with me in the blue room of the white house to discuss the way forward and his priorities for a second term. mr. president, welcome back to "meet the press." >> it's great to be here. thank you. >> so the obvious question, are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended, and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire ec
time is nearly up before we go over the so-called fiscal cliff. senate leaders spent the weekend working on a last-ditch deal and the house comes back today for a rare sunday night session. yesterday afternoon in an exclusive interview, president obama sat down with me in the blue room of the white house to discuss the way forward and his priorities for a second term. mr. president, welcome back to "meet the press." >> it's great to be here. thank you. >> so the obvious...
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house republicans were cozy and doing nothing on the fiscal cliff. john bone bone took himself out of the negotiations and abdicated responsibility and said he would dole with whatever the senate and president had come to. i happening there is a lot of good proprosals on the table and something will get done, too. >> dave: it appears that senate republicans came a long way in sharing their desire for no taxes raised on the wealthy. $550,000 thres hold for couples is a significant compromise. but can they get anything through the house in terms of getting republican votes today? >> i don't think that will get through the house . the house was elected to protect the united states of additional obama care spipe types of spending . from the perspective it is it a char aid. he wants to raise tax for people with over $200,000 . patti murray tipped the president's hand when she said it is okay to go off the fiscal cliff . we get credit when we cut taxing back to the level they were before the cliff . it is it a political issue for them to attain their goali
house republicans were cozy and doing nothing on the fiscal cliff. john bone bone took himself out of the negotiations and abdicated responsibility and said he would dole with whatever the senate and president had come to. i happening there is a lot of good proprosals on the table and something will get done, too. >> dave: it appears that senate republicans came a long way in sharing their desire for no taxes raised on the wealthy. $550,000 thres hold for couples is a significant...
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if lawmakers do not reach a fiscal cliff agreement, you could see your taxes skyrocket and deep spending cuts kick in on entitlements and tax increases. the major sticking points or entitlements and tax increases. house republicans met into the evening and we'll find out in the morning whether joe biden and mitch mcconnell made any progress in their talks. both houses will be back in session tomorrow. those are your headlines this hour, i'm don lemon, keeping you informed. cnn, the most trusted name in news. >>> three, two, one. and liftoff -- >> may 2012, space-x launched a rocket into space, becoming the first commercial company to dock a spacecraft at the international space station. it marked a new beginning, private companies instead of nasa sending cargo to the station. it was one of the space industry's top accomplishments. one of our top scientific breakthroughs of 2012. >>> it was a banner year for bad behavior and not all of it easy to stomach. from sports to politics and beyond. here's joe johns with the ten most scandalous stories of 2012. >> number 10, royalty gone wild. thi
if lawmakers do not reach a fiscal cliff agreement, you could see your taxes skyrocket and deep spending cuts kick in on entitlements and tax increases. the major sticking points or entitlements and tax increases. house republicans met into the evening and we'll find out in the morning whether joe biden and mitch mcconnell made any progress in their talks. both houses will be back in session tomorrow. those are your headlines this hour, i'm don lemon, keeping you informed. cnn, the most trusted...
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there are just 28 hours before the nation goes over the so-called fiscal cliff. fox chief white house correspondent ed henry has been at the white house, covering it all day. ed, where do things stand? >> good to see you, dana, you've been through the budget battles. the bottom line, there's not a lot of progress, so the white house is here and waiting and looking at what kind of last minute negotiations were going on, on capitol hill behind closed doors, but the senate majority leader harry reid a short time ago going home and basically saying that he will be back in the senate until tomorrow at 11 a.m., suggests that we're edging closer and closer to that cliff, but what the president did today. as he did something rare, he went on the sunday talk show for the first time in three years, went on nbc's meet the press and the last time he did one of the shows was promote health care reform today and try and back republicans back into a corner and suggested that maybe he's starting to play the blame game and saying if we go off the cliff it's going to be republican
there are just 28 hours before the nation goes over the so-called fiscal cliff. fox chief white house correspondent ed henry has been at the white house, covering it all day. ed, where do things stand? >> good to see you, dana, you've been through the budget battles. the bottom line, there's not a lot of progress, so the white house is here and waiting and looking at what kind of last minute negotiations were going on, on capitol hill behind closed doors, but the senate majority leader...
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if lawmakers do not reach a fiscal cliff agreement, you could see your taxes skyrocket and deep spending cuts kick in. major sticking points, entitlements and tax increases. house republicans have ended their meetings for the night. we'll find out tomorrow whether vice president joe biden and mitch mcconnell have made any progress in their talks. any deal would have to get enough votes to pass the senate and the house. >>> president obama says sandy hook school shooting was the worst day of his presidency. americans will have to explore their own feelings when his gun law reform proposals come out next year. >> the question then becomes, whether we are actually shook up enough by what happened here that it does not just become another one of these routine episodes where it gets a lot of attention for a couple of weeks and then it drifts away. it certainly won't feel like that to me. >> the president says the law he's pushing will address assault style rifles, high capacity magazines and background checks. >>> the fiscal cliff, it's not the only deadline pressing on congress. a five-year
if lawmakers do not reach a fiscal cliff agreement, you could see your taxes skyrocket and deep spending cuts kick in. major sticking points, entitlements and tax increases. house republicans have ended their meetings for the night. we'll find out tomorrow whether vice president joe biden and mitch mcconnell have made any progress in their talks. any deal would have to get enough votes to pass the senate and the house. >>> president obama says sandy hook school shooting was the worst...
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regardless of what happens with the fiscal cliff, we'll see these periodic fights over the budget ceiling or the deficit ceiling and it's going to happen repeatedly and the house is going to hold this over the administration and the treasury department and so the more i look at it, the more i'm becoming concerned that this is just some kind of ongoing, ugly process that has no real end in sight. >> and we will leave it on that note. stay with us. coming after the break, we want to talk specifically about municipal debt which has been one of the areas that perhaps has been under cover but has seen an impact as the fiscal cliff approaches. congress may be able to avoid the starry cliff. they're set to temporarily extend the u.s. farm bill. the move would keep a long dormant milk subsidy from coming back to life when the current bill expires today. under a new law, the milk could be forced at prices well above what farmers are getting now if that subsidy was pushed aside. let's get a look at what's on the agenda this week in the u.s. there is no data out today and markets will put in a full
regardless of what happens with the fiscal cliff, we'll see these periodic fights over the budget ceiling or the deficit ceiling and it's going to happen repeatedly and the house is going to hold this over the administration and the treasury department and so the more i look at it, the more i'm becoming concerned that this is just some kind of ongoing, ugly process that has no real end in sight. >> and we will leave it on that note. stay with us. coming after the break, we want to talk...
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the tax rates went up went over the fiscal cliff wall of the ta rates went up on every single american, we would still have a deficit twice as large as the largest bush deficit. we are spending a trillion more a year than we were five years ago. we have to resolve dhou we continue to spend this money. we can wrap around how we get this spending down no amount of taxation is going to solve the problem. >> why is it there's a reluctance to identify where the spending cuts should go? no one wants to talk about the sacred entitlements but at some point we have to. if we are spending a trillion dollars a year and if the revenues are offset by the spending recommended by the president our grandchildren will be held hostage. >> get everybody back to work. we did not pay for the cost of the war. president bush should have done that. both were declared during his administration. that cost is enormous. huge pay out to health insurance unemployment compensation and so forth because the wholly con me went to pot. of course spending would go up. having responsible legislation is so important. it st
the tax rates went up went over the fiscal cliff wall of the ta rates went up on every single american, we would still have a deficit twice as large as the largest bush deficit. we are spending a trillion more a year than we were five years ago. we have to resolve dhou we continue to spend this money. we can wrap around how we get this spending down no amount of taxation is going to solve the problem. >> why is it there's a reluctance to identify where the spending cuts should go? no one...
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all eyes on our nation's capital will look live now as the fiscal cliff rages on in the fight to come up with some kind of solution. republicans and democrats going back and forth behind closed doors on this sunday after reports of setbacks in negotiations. joining me now for his take on what has gone on now, really, since last night, fox news senior capitol hill producer, chad, good to see you. >> thank you for having me. >> harris: so basically, chad, we're right back where we started because of this setback and these two sides are now breaking up. they've gone home. >> well, in some respects we're back further than we were. it was very remarkable this afternoon when we heard there was a major setback as they start today talk about this changed cpi, change to the the consumer price index and the way they would calculate it for entitlement benefits. that's very serious, it's almost toxic to democrats and the democrats immediately decried this as a poison pill. and again, just how quickly things have changed throughout the day. democratic senator of maryland says it's like a kaleidosc
all eyes on our nation's capital will look live now as the fiscal cliff rages on in the fight to come up with some kind of solution. republicans and democrats going back and forth behind closed doors on this sunday after reports of setbacks in negotiations. joining me now for his take on what has gone on now, really, since last night, fox news senior capitol hill producer, chad, good to see you. >> thank you for having me. >> harris: so basically, chad, we're right back where we...
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time nearly up before we go over the fiscal cliff. senate leaders spent the weekend working on a last-ditch deal and the house comes back for a rare sunday session. president obama sat down with me in the blue room of the white house to discuss the way forward and his priorities for a second term. mr. president, welcome back to "meet the press." >> great to be here. thank you. >> the obvious question, are we going to go over the fiscal cliff? >> well, i think we'll find out in the next 48 hours what congress will decide to do. but i think it's important for the american people to understand exactly what this fiscal cliff is, because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended, and they are all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchas
time nearly up before we go over the fiscal cliff. senate leaders spent the weekend working on a last-ditch deal and the house comes back for a rare sunday session. president obama sat down with me in the blue room of the white house to discuss the way forward and his priorities for a second term. mr. president, welcome back to "meet the press." >> great to be here. thank you. >> the obvious question, are we going to go over the fiscal cliff? >> well, i think we'll...
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cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make sure that the house would be agreeable to whatever the senate minority leader put out. democrats would have to be apprised of that as well but any agreement is probably going to need democrats in the house of representatives. the house is also working on a number of procedural maneuvers tonight to pave the way for quick votes over the next few days. they are not actively involved in the negotiations but if these two are to get a deal, vice president and senate minority leader the house could do a quick vote. >> two other things, first, if they don't do a deal, what can the average american, expect as far as tax increases? >> the average american could and not up and down the income sale. bush tax cuts created lower tax brackets for lower income americans, so up and down you would see specific tax increases not just on wealthier americans. >> and this doesn't have
cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make sure that the house would be agreeable to whatever the senate minority leader put out. democrats would have to be apprised of that as well but any agreement is probably going to need democrats in the house of representatives. the house is also working on a...
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. >>> meantime, the fiscal cliff stand-off in washington continues. at this late hour the senate and house of representatives both went into recess, still no deal. republican senate leader mitch mcconnell reached out to vice president joe biden to help reach an agreement. two men who have served as their party's closers, so to speak, on tough deals before. senate majority leader harry reid says he plans to have a plan up for a vote tomorrow morning. although there are serious differences on both sides. >> we're not going to have any social security cuts at this stage, it just doesn't seem appropriate. i still hold out hope we can get something done but i'm not overly optimistic but i am cautiously optimistic. >> republicans pushed back on claims by democrats that the social security benefit measurement, which is known as the chained cpi and basically would reduce the amount of money that senior citizens get under social security, was part of the republican plan. in any case, that is off the table. senator john mccain posted this on twitter, most of us
. >>> meantime, the fiscal cliff stand-off in washington continues. at this late hour the senate and house of representatives both went into recess, still no deal. republican senate leader mitch mcconnell reached out to vice president joe biden to help reach an agreement. two men who have served as their party's closers, so to speak, on tough deals before. senate majority leader harry reid says he plans to have a plan up for a vote tomorrow morning. although there are serious...